Alcoa Downgraded
Deutsche Bank analyst Jorge Beristain downgraded Alcoa (NYSE:AA) from a "Buy" to a "Hold," while lowering his target price for $25 to $18.
Beristain made the decision based on increased costs which should temper earnings in the short term.
Even though aluminum prices are increasing, they aren't expected to keep up with the cost to produce it, thus the downgrade from Beristain.
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